Five-Story Office
For Sale
$8,100,000
1523 Voorhies Avenue, Brooklyn, NY 11235
Configured for medical and professional practices, with a finished lobby and extensive built-in cabinetry.
Property Size18,858 SF
Price / SF$429.53
Days on Market171
Property Features for 1523 Voorhies Avenue
General Information
Standard status
Active
Size
18,858 SF
Property subtype
Commercial
Additional Details
Property Use
Medical and Professional Office
Taxes and HOA fees
Annual Taxes
$132,141
Amenities
well-appointed lobby
Building Details
Building Size
18,858 SF
Stories
5
Listed By:
Gail Leone
(914) 723-8228
Source:
Clairedleone
Added: May 8
Changed: Oct 23
Last Checked: Oct 23 at 5:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gail Leone
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Investment Insights
Based on property information with market context.
This 18,858-square-foot, five-story office property at 1523 Voorhies Avenue in Brooklyn is arranged for medical and professional office use. Interior features include built-in cabinetry, quality finishes and a well-appointed lobby. Building systems are reported to be in working order, and the space is fully utilized.
The property is in Sheepshead Bay. A projected cap rate of approximately 7% is stated.
The property is in Sheepshead Bay. A projected cap rate of approximately 7% is stated.
Key Highlights
- 18,858‑square‑foot office building across five stories
- Configured for medical and professional office use
- Built‑in cabinetry, quality finishes and a well‑appointed lobby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$470,469
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,409,380
$9.4M
Cap Rate 7%
$6,720,986
$6.7M
Cap Rate 9%
$5,227,433
$5.2M
Market Conditions
NOI Build-Up for 18,858 SF
Gross rent
$814.7K $43.20/SF
− Vacancy
−$187.4K −$9.94/SF
EGI
$627.3K $33.26/SF
− OpEx
−$156.8K −$8.32/SF
NOI
$470.5K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,409,380
Cap Rate 7%
$6,720,986
Cap Rate 9%
$5,227,433
Alternative Uses
Best Use
Office B
$6.72M
$5.88M – $7.84M
NOI $470,469 @ 7.0% cap · market cap 5.81%
Second Best
Healthcare Medical
$6.25M
$5.47M – $7.29M
NOI $437,204 @ 7.0% cap · market cap 5.40%
Theoretical Best
Specialty Retail
$15.61M
$13.66M – $18.22M
NOI $1,093,010 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,757
Businesses Nearby
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Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Configured for medical and professional practices, with a finished lobby and extensive built-in cabinetry.
Where is this office building located?
The property is located at 1523 Voorhies Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $8,100,000.
What are key features of this property?
This property features: 18,858‑square‑foot office building across five stories; Configured for medical and professional office use; Built‑in cabinetry, quality finishes and a well‑appointed lobby
